Social Security

[catocom]

No boost for Social Security checks in 2011

It would mark only the second year without an increase since automatic adjustments for inflation were adopted in 1975. The first year was this year.
"If you're the ruling party, this is not the sort of thing you want to have happening two weeks before an election," said Andrew Biggs, a former deputy commissioner at the Social Security Administration and now a resident scholar at the American Enterprise Institute.

http://www.foxnews.com/us/2010/10/10/social-security-cola-expected/

What happened to the left-wing Savior?
Boy he fooled you guys.

 

[Winky]

Social Security safety net's gaping holes?

"automatic adjustments for inflation"

It's simple maths homey.

You don't have too increase the cost of living during
the deflationary period of a depression.

I bet minks could tell us about the real numbers©
my guess is we are seeing real deflation.

That is until the wanton printing of the fiat
currency causes Zimbabwe style hyper-inflation.

Aren't people on SSI supposed to live in poverty?

 

[catocom]

Personally I'm game for the so-called 'shared sacrifice' on my end,
but just like paying taxes, I'd feel a lot better about it if the gov. was spending
the money halfway responsibly.

Just seems like one big scam atm.

I heard Obammy talking about infrastructure today, like the so-called
"Recovery and Reinvestment Act" never happened.
All that money just blown away.

 

[Winky]

Welfare

Without being totally obnoxious
your sacrifice comment is quite insane.

That fucker ran up a 1.4 Trillion Dollar deficit
in one year. You should be driving a gold plated humvee!

 

[catocom]

Re: Welfare

Without being totally obnoxious
your sacrifice comment is quite insane.

That fucker ran up a 1.4 Trillion Dollar deficit
in one year. You should be driving a gold plated humvee!

hey, I paid my premiums like everybody else.
I didn't create the system.
You are in on it too, whether you like it or not.

It was a ponzi from it's beginning. I'm just a little higher in the pyramid due to circumstance.
If it had never been, there might be something else in place, like more church groups,
but it is what it is now.
I believe this is just the first step in the reversal, maybe.

 

[Winky]

The last man working in America

the first step in the reversal, maybe.

nah just a pause prior to plunging headlong over the precipice

 

[valkyrie]

When a citizen pays into SS they are not paying into an account for themselves. This money is used to pay out to those that currently qualify to receive those benefits. You are credited for the years you pay in so that you also can qualify when you have satisfied the requirements to receive SS benefits.
"When you work and pay Social Security taxes, you earn “credits” toward Social Security benefits."
http://www.ssa.gov/pubs/10035.html#know

If someone does not pay into the SS system they are not eligible for SS retirement income.

I hate to agree with Winky but he has a point. There should be no increase to SS if there is no increase to inflation.
"Cost-of-living adjustments are automatically set by a measure adopted by Congress in the 1970s that orders raises based on the Consumer Price Index, which measures inflation. If inflation is negative, as in 2009 and 2010, payments remain unchanged."
http://news.yahoo.com/s/ap/20101011/ap_on_bi_ge/us_social_security_no_cola

I see this as responsible government spending for a government program. You don't get an increase just because you didn't die this year.

 

[Winky]

I wanna die next year

 

[Gonz]

Die this year. No estate taxes.

As for the COLA....anybody wanna compare grocery receipts from 16 months ago? It'll show no inflation, right?

 

[catocom]

yeah, right, no inflation.....
anybody been tracking the price of beef, pork, corn, sugar....

all up.
I spent 600 bucks a week ago, that used to be around 450.
I do qualify for about that much in food stamps, but I've got my finances
in a position so I can get by without um, and still make the house taxes and insurance.
There isn't any wiggle room, but I just can't feel right applying when
I don't just have to, and I won't as long as these kids have something.
Our garden didn't do jack this year, and that makes it tougher, but we're
still treading water.

 

[Gotholic]

Social Security should be abolished.

 

[ResearchMonkey]

Social Security should be abolished.

Why? It's all going to be fixed up all dandy when the Dems win big in November.

Thursday, October 7, 2010,

Democrats in the Senate on Thursday held a recess hearing covering a taxpayer bailout of union pensions and a plan to seize private 401(k) plans to more “fairly” distribute taxpayer-funded pensions to everyone.

Sen. Tom Harkin (D-Iowa),

“Guaranteed Retirement Account”

In a nutshell, under the GRA system government would seize private 401(k) accounts, setting up an additional 5% mandatory payroll tax to dole out a “fair” pension to everyone using that confiscated money coupled with the mandated contributions. This would, of course, be a sister government ponzi scheme working in tandem with Social Security, the primary purpose being to give big government politicians additional taxpayer funds to raid to pay for their out-of-control spending.

http://beforeitsnews.com/story/211/...ure_of_401k_Accounts_May_Be_Reality_Soon.html

Don't worry Goth, they have it under control.

 

[catocom]

Social Security should be abolished.

It will be when it runs out.

 

[Gonz]

Seize my 401(k) & the war may begin that day

 

[Winky]

hah what ya gonna do?

 

[jimpeel]

This was also the first year in SS history in which more funds were paid out than the amount coming in. I'm glad I decided to file early and get what I can before this entire mess takes a royal shit.

 

[valkyrie]

Die this year. No estate taxes.

As for the COLA....anybody wanna compare grocery receipts from 16 months ago? It'll show no inflation, right?

Defined by the Bureau of Labor Statistics as "a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services." It is also based on consumption and expenditures of households.

If people are cutting back then this may be playing a factor in CPI (not sure about this and I need to do more research to be sure). I know we have cut back a lot even though we both have jobs. Everyone is afraid of losing what they have so they are saving and not spending.

 

[valkyrie]

Here we go...
http://www.bls.gov/cpi/cpifaq.htm
"The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. "

"The CPI market basket is developed from detailed expenditure information provided by families and individuals on what they actually bought."

OK, so I was right about the expenditures. We all know that people are not consuming like they used to. This is a big factor in calculating the CPI. It has less to do with how much the price of a single item went up (like beef, or pork, etc.). People are just consuming less.

I am a bit shocked at some of the grief coming from the Right on this board. I would have thought many of you would be happy that the government is not increasing it's spending.

 

[Winky]

Social Security My Ass!

Americans are Still Asking "Where are the Jobs?":

 

[valkyrie]

I prefer those jobs be generated in the private sector and not the public/government sector. Yes? I don't want my government to create a job and assign it to me.